Wednesday, June 8, 2022

9 Jun 2022 Foreign


 WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq


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E-Mini Dow

U.S. stocks fell on Wednesday as Treasury yields rose above the psychologically important 3% level and oil prices jumped, fanning worries about inflation and the outlook for interest rates.

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Plan A: Remain short as long as market trades below 33008. Targets are 32813 and 32617.

Plan B: Consider long if market stays above 32617. Targets are 33008 and 33203.


E-Mini S&P 500
Stocks fell on Wednesday as investors monitored signs of a potential economic slowdown and kept an eye on the bond market.

The S&P 500 slid 1.08% to finish at 4,115.77.

The U.S.-traded shares of Credit Suisse fell 1% after the bank issued a profit warning for the second quarter, citing tighter monetary policy and the war in Ukraine. Intel dropped more than 5% after management warned of weakening demand for semiconductors at an industry conference.

Action in the bond market may have hurt investor sentiment on Wednesday, as the 10-year Treasury yield jumped back above 3%. The price of oil also rose, with U.S. benchmark West Texas Intermediate crude pushing well above $120 per barrel.

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Plan A: Short if market failed to support above 4108. Targets are 4095 and 4087.  

Plan B: Long only if market supported firm above 4108. Targets are 4113 and 4126.



E-Mini Nasdaq

Stock futures were lower in early morning trading Thursday after the major averages ended the Wednesday regular session lower and U.S. Treasury yields rose.

Nasdaq Composite dropped 0.73% to 12,086.27.

Investors on Wednesday continued to look for signs of slowing economic growth ahead of May’s consumer price index reading slated for Friday. The data is expected to come in slightly below April’s numbers and could indicate that inflation has reached its peak.

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Plan A: Short if market failed to support above 12656. Targets are 12626 and 12599.

Plan B: Long if market supported firm above 12656. Targets are 12680 and 12717.




HSI
The Hong Kong Hang Seng Index opened higher and closed up 2.2%, as tech shares again found favor with traders after Beijing approved more video-game titles for sale.

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Plan A: Remain long if the market stays above 21563. Targets are 22031 and 22188.

Plan B: Consider short only if the market stays below 21406. Targets are 21250 and 21094.


WTI Crude
Oil prices jumped over 2% to a 13-week high on Wednesday as U.S. demand for gasoline keeps rising despite record pump prices, while expectations that China's oil demand will increase faced growing supply concerns in several countries, including Iran.

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Plan A: Remain long as long as oil price stays above 119.53. Targets are 122.66 and 123.44.

Plan B: Consider short only if oil price stays below 118.75. Targets are 117.97 and 116.41.



Gold
Gold inched up in choppy trade on Wednesday as concerns over economic growth boosted the metal's safe-haven appeal ahead of U.S. inflation data that could guide the Federal Reserve's rate hike timeline.
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Plan A: Remain long as long as gold price stays above 1843.8. Targets are 1859.4 and 1867.2.
Plan B: Attempts short only if gold price stays below 1839.8. Targets are 1835.9 and 1830.


Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Bloomberg, CNN, Market Watch, FT.com, the Star online, forbes.com, mining.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correction, completion and amendment without notice.As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment. 

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